Hungary's development minister Fellegi resigns to lead IMF negotiations.

By bne IntelliNewsDecember 9, 2011

Hungary's development minister Tamas Fellegi has resigned from his post in the cabinet in order to focus on the forthcoming negotiations with the IMF, portfolio.hu reported. The minister will not only conduct the talks but he will also have to co-ordinate the government's measures, keep contacts with rating agencies among others, which is quite broad responsibility and could not be combined with the work at the ministry, Fellegi explained. Hungary requested financial aid from the IMF and EU in November in the wake of a rating downgrade by Moodys.

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